Ulta Beauty Inc. $ULTA Shares Sold by OLD Point Trust & Financial Services N A

OLD Point Trust & Financial Services N A trimmed its holdings in Ulta Beauty Inc. (NASDAQ:ULTA) by 2.5% in the second quarter, Holdings Channel.com reports. The fund owned 3,215 shares of the specialty retailer’s stock after selling 82 shares during the period. OLD Point Trust & Financial Services N A’s holdings in Ulta Beauty were worth $1,504,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ULTA. GAMMA Investing LLC lifted its stake in Ulta Beauty by 6.0% during the first quarter. GAMMA Investing LLC now owns 1,210 shares of the specialty retailer’s stock valued at $444,000 after buying an additional 69 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Ulta Beauty by 110.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 9,926 shares of the specialty retailer’s stock valued at $3,638,000 after buying an additional 5,207 shares during the period. Blue Trust Inc. increased its stake in Ulta Beauty by 49.5% in the 1st quarter. Blue Trust Inc. now owns 148 shares of the specialty retailer’s stock valued at $54,000 after buying an additional 49 shares during the period. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Ulta Beauty in the 1st quarter valued at approximately $493,000. Finally, Asset Management One Co. Ltd. increased its stake in Ulta Beauty by 9.8% in the 1st quarter. Asset Management One Co. Ltd. now owns 20,048 shares of the specialty retailer’s stock valued at $7,348,000 after buying an additional 1,797 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

Ulta Beauty Trading Down 1.3%

Shares of Ulta Beauty stock opened at $519.33 on Thursday. The company’s fifty day simple moving average is $531.60 and its 200-day simple moving average is $472.96. The company has a market cap of $23.29 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 2.90 and a beta of 1.08. Ulta Beauty Inc. has a 1 year low of $309.01 and a 1 year high of $572.23.

Ulta Beauty (NASDAQ:ULTA) last announced its quarterly earnings data on Thursday, August 28th. The specialty retailer reported $5.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.03 by $0.75. Ulta Beauty had a net margin of 10.31% and a return on equity of 48.78%. The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the company posted $5.30 earnings per share. Ulta Beauty’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, research analysts forecast that Ulta Beauty Inc. will post 23.96 earnings per share for the current fiscal year.

Insider Activity

In other Ulta Beauty news, Director Mike C. Smith sold 500 shares of Ulta Beauty stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $528.43, for a total transaction of $264,215.00. Following the completion of the transaction, the director directly owned 2,263 shares of the company’s stock, valued at approximately $1,195,837.09. This trade represents a 18.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Argus upgraded shares of Ulta Beauty from a “hold” rating to a “buy” rating and set a $570.00 price objective on the stock in a research note on Thursday, September 25th. Piper Sandler began coverage on shares of Ulta Beauty in a research note on Thursday, September 4th. They issued an “overweight” rating and a $590.00 price objective on the stock. Citigroup increased their price objective on Ulta Beauty from $450.00 to $550.00 and gave the stock a “neutral” rating in a report on Monday, August 18th. Wells Fargo & Company increased their price objective on Ulta Beauty from $425.00 to $450.00 and gave the stock an “underweight” rating in a report on Thursday, October 16th. Finally, The Goldman Sachs Group increased their price target on Ulta Beauty from $530.00 to $584.00 and gave the company a “buy” rating in a report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Ulta Beauty presently has an average rating of “Moderate Buy” and an average price target of $550.38.

Ulta Beauty Profile

Ulta Beauty, Inc operates as a specialty beauty retailer in the United States. The company offers branded and private label beauty products, including cosmetics, fragrance, haircare, skincare, bath and body products, professional hair products, and salon styling tools through its Ulta Beauty stores, shop-in-shops, Ulta.com website, and its mobile applications.